AcuityAds buys 140 Proof
Toronto-based AcuityAds has acquired 140 Proof, a mobile advertising company based in San Francisco. AcuityAds specializes in mobile, video, social media and display advertising, while 140 Proof specializes in social media and mobile audience targeting based on consumer interest. AcuityAds will incorporate this technology into its own services. According to the company, the cash deal is valued at up to US$20 million, consisting of an up-front payment and subsequent performance-based payments. The transaction, which is still subject to approval by 140 Proof's shareholders, is expected to close in the third quarter of the year.
"Our vision has always been to create the most robust self-serve programmatic marketing platform in the industry by enabling marketers to target and connect more intelligently," said Tal Hayek, CEO of AcuityAds. "The 140 Proof acquisition accelerates our ability to leverage social media data for brand advertisers and media companies to deliver powerful targeted advertising at scale. We believe that this acquisition will yield a game-changing audience targeting solution for Acuity's customers and their digital marketing initiatives."